Avinger Correlations

Summary

AVGRDelisted Stock

USD 0.47 0.09 16.07%

The current 90-days correlation between Avinger and GlucoTrack is -0.04 (i.e., Good diversification). The correlation of Avinger is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Avinger Correlation With Market

Good diversification

The correlation between Avinger and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avinger and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against Avinger Stock

0.54	HAE	Haemonetics	Pair Corr
0.53	DXR	Daxor	Pair Corr
0.5	WST	West Pharmaceutical Earnings Call This Week	Pair Corr
0.47	WRBY	Warby Parker	Pair Corr
0.46	RMD	ResMed Inc	Pair Corr
0.39	STSSW	Sharps Technology Warrant	Pair Corr
0.37	HOLX	Hologic Sell-off Trend	Pair Corr
0.36	XRAY	Dentsply Sirona	Pair Corr
0.33	ATR	AptarGroup Earnings Call This Week	Pair Corr
0.54	KRMD	Repro Med Systems	Pair Corr
0.51	NEPH	Nephros	Pair Corr
0.49	POCI	Precision Optics,	Pair Corr
0.47	NVST	Envista Holdings Corp	Pair Corr
0.45	NYXH	Nyxoah	Pair Corr
0.4	INFU	InfuSystems Holdings	Pair Corr

Related Correlations Analysis

	GCTK	NXGL	STSS	LUCY	ANGO	ATRC	AKYA	ATR	ICUI	MLSS
GCTK		0.15	0.14	-0.12	-0.05	0.11	-0.31	-0.52	0.64	0.78	GCTK
NXGL	0.15		0.55	-0.78	-0.43	-0.48	0.28	-0.35	0.48	-0.2	NXGL
STSS	0.14	0.55		-0.45	-0.03	-0.09	0.11	-0.66	0.16	-0.12	STSS
LUCY	-0.12	-0.78	-0.45		0.55	0.58	-0.24	0.35	-0.27	0.22	LUCY
ANGO	-0.05	-0.43	-0.03	0.55		0.67	-0.12	-0.04	-0.03	0.18	ANGO
ATRC	0.11	-0.48	-0.09	0.58	0.67		-0.34	0.07	0.04	0.29	ATRC
AKYA	-0.31	0.28	0.11	-0.24	-0.12	-0.34		0.12	-0.15	-0.56	AKYA
ATR	-0.52	-0.35	-0.66	0.35	-0.04	0.07	0.12		-0.24	-0.43	ATR
ICUI	0.64	0.48	0.16	-0.27	-0.03	0.04	-0.15	-0.24		0.43	ICUI
MLSS	0.78	-0.2	-0.12	0.22	0.18	0.29	-0.56	-0.43	0.43		MLSS
	GCTK	NXGL	STSS	LUCY	ANGO	ATRC	AKYA	ATR	ICUI	MLSS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MLSS	+ 0.78	GCTK
ATRC	+ 0.67	ANGO
ICUI	+ 0.64	GCTK
ATRC	+ 0.58	LUCY
STSS	+ 0.55	NXGL
ANGO	+ 0.55	LUCY

High negative correlations

LUCY	- 0.78	NXGL
ATR	- 0.66	STSS
MLSS	- 0.56	AKYA
ATR	- 0.52	GCTK
ATRC	- 0.48	NXGL
LUCY	- 0.45	STSS

Risk-Adjusted Indicators

There is a big difference between Avinger Stock performing well and Avinger Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Avinger's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GCTK	5.45	(0.66)	0.00	(0.23)	0.00	0.00	10.70	(11.95)	59.67
NXGL	2.73	(0.27)	0.00	(0.12)	0.00	0.00	5.75	(5.58)	21.04
STSS	5.58	(0.65)	0.00	2.28	0.00	0.00	8.58	(11.97)	76.96
LUCY	5.38	0.42	0.05	1.79	6.40	(6.81)	8.56	(8.86)	84.29
ANGO	2.17	(0.31)	0.00	(0.11)	0.00	0.00	5.05	(4.32)	23.06
ATRC	1.84	(0.26)	0.00	(0.15)	0.00	0.00	2.91	(3.04)	17.56
AKYA	4.10	0.40	0.02	(0.24)	5.25	(4.36)	9.73	(8.80)	32.35
ATR	0.87	0.01	(0.02)	0.14	1.07	(0.89)	2.30	(1.59)	6.25
ICUI	1.68	(0.32)	0.00	(0.19)	0.00	0.00	3.69	(3.98)	11.56
MLSS	2.95	(0.54)	0.00	(1.41)	0.00	0.00	6.35	(5.71)	29.72

View Avinger Related Equities

GlucoTrack Nexgel Inc Sharps Technology Innovative Eyewear AngioDynamics AtriCure Akoya Biosciences AptarGroup ICU Medical Milestone Scientific Pro Dex Top Glove Precision Optics, Nephros G Medical Innovations

Risk & Return

Correlation

Avinger Corporate Management

Keith Schaefer	Chief Officer	Profile
Corey Gibbs	Vice Sales	Profile
Nabeel CPA	Principal Finance	Profile
Nabeel Subainati	Principal Finance	Profile
Himanshu Patel	Chief Officer	Profile
MD FACC	Chief Officer	Profile

Still Interested in Avinger?

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